Overall, the Australian macadamia industry enjoyed an improved position compared to the previous year, with farm gate prices up and global demand increasing. However, it wasn’t without its challenges, with cost of living pressures continuing to impact consumption, particularly in the USA.
For the 12 months to June 2024, exceptionally high volumes of nut-in-shell continued to enter the China market for a second year. Sales of nut-in-shell were up 24% on the prior 12 months, again impacting the crop available for kernel and with limited inventory available from 2023, kernel sales were down 8%.
The majority of Australia’s kernel sales are to the Australian and Asian region, which account for 84% of total sales. The domestic and South Korean markets continued to grow strongly, with sales to all other markets below prior year due to increased competition from other origins and kernel availability.